The market continued with its downward slide, with the Colombo Stock Exchange’s (CSE’s) benchmark all share price index (ASPI) losing by 4.4 points to close at 592.2 points and the bluechip MILANKA price index (MPI) down by 5.1 points to close at 978.1 points at the end of Wednesday’s trading, data on a CSE release showed.

However, sources expected the market to receive a thrust in another couple of days, may be as early as today, with expectations that institutions will move into the market to pick-up shares at bargain prices.

Meanwhile, turnover recorded for the day was Rs 80.2 million, with John Keells Holdings (JKH) appearing to have contributed to the entirety of foreign sales of Rs 53.3 million and foreign purchases of Rs 31.71 million that took place yesterday.

JKH’s contributions to foreign sales on Wednesay was Rs 53 million and foreign purchases, Rs 30 million. JKH was also the single biggest contributor to the day’s trading, contributing an overall Rs 58.13 million on a share volume of 1,056,800. JKH closed at Rs 55, the same price it closed on Tuesday.

Other major contributors were Commercial Bank Rs 3.16 million on a share volume of 24,222. Commercial Bank closed at Rs 131, Rs 1 less than the previous day’s closing price. National Development Bank Rs two million on a share volume of 30,400. NDB closed at Rs 65.50; 50 cents less than the previous day’s closing price.

Kapila Heavy Rs 1.65 million on a share volume of 123,000. Kapila Heavy closed at Rs 13.50, Rs 4 more than the previous day’s closing price. Vanik Rs 1.25 million on a share volume of 333,900. Vanik closed at Rs 3.50, the same price it closed the previous day.

Meanwhile, among the top gainers were W. M. Mendis, up by Rs 4.25 to close at Rs 15. And among the top losers, Associated Electricals (shares of Rs 8 par value), down by Rs 30 to close at Rs 30.

Lion Brewery, down by Rs 6 to close at Rs 36; Ceylon Guardian, down by Rs 5 to close at Rs 95; Mahaweli Reach, down by Rs 2 to close at Rs 3 and Browns, down by Rs 2 to close at Rs 40. (PA)